Hennion & Walsh Asset Management Inc. Acquires 4,128 Shares of IDACORP, Inc. $IDA

Hennion & Walsh Asset Management Inc. lifted its stake in IDACORP, Inc. (NYSE:IDA) by 184.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,371 shares of the energy company’s stock after acquiring an additional 4,128 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in IDACORP were worth $806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IDA. State Street Corp boosted its holdings in IDACORP by 6.3% in the 2nd quarter. State Street Corp now owns 1,873,225 shares of the energy company’s stock valued at $216,264,000 after purchasing an additional 110,885 shares during the period. Reaves W H & Co. Inc. increased its holdings in shares of IDACORP by 8.5% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,700,680 shares of the energy company’s stock worth $224,745,000 after purchasing an additional 133,836 shares during the period. Alliancebernstein L.P. increased its holdings in shares of IDACORP by 1.0% during the 2nd quarter. Alliancebernstein L.P. now owns 1,404,847 shares of the energy company’s stock worth $162,190,000 after purchasing an additional 13,283 shares during the period. Jennison Associates LLC raised its position in shares of IDACORP by 3.5% during the third quarter. Jennison Associates LLC now owns 1,370,069 shares of the energy company’s stock valued at $181,055,000 after buying an additional 46,413 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of IDACORP by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 743,550 shares of the energy company’s stock valued at $98,256,000 after buying an additional 13,030 shares during the period. Institutional investors own 89.10% of the company’s stock.

Wall Street Analysts Forecast Growth

IDA has been the topic of a number of recent research reports. Mizuho lifted their target price on IDACORP from $141.00 to $148.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Wells Fargo & Company downgraded IDACORP from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $129.00 to $118.00 in a research report on Tuesday, January 20th. BTIG Research reissued a “buy” rating and set a $156.00 price objective on shares of IDACORP in a report on Friday, January 30th. Barclays boosted their price objective on IDACORP from $144.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, February 24th. Finally, UBS Group upped their target price on IDACORP from $134.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

IDACORP Stock Performance

NYSE:IDA opened at $144.29 on Friday. IDACORP, Inc. has a 12-month low of $108.15 and a 12-month high of $145.94. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $7.92 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 2.81 and a beta of 0.54. The firm has a 50-day moving average price of $139.77 and a 200 day moving average price of $133.29.

IDACORP (NYSE:IDA) last released its quarterly earnings data on Thursday, February 19th. The energy company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. IDACORP had a return on equity of 9.36% and a net margin of 17.84%.The company had revenue of $405.24 million for the quarter, compared to the consensus estimate of $533.06 million. During the same period in the previous year, the business earned $0.70 earnings per share. IDACORP has set its FY 2026 guidance at 6.250-6.450 EPS. Research analysts anticipate that IDACORP, Inc. will post 5.81 earnings per share for the current fiscal year.

IDACORP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Thursday, February 5th were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, February 5th. IDACORP’s dividend payout ratio is 59.66%.

Insiders Place Their Bets

In other IDACORP news, VP Julia A. Hilton sold 1,000 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $142.79, for a total transaction of $142,790.00. Following the completion of the transaction, the vice president directly owned 2,313 shares in the company, valued at $330,273.27. This represents a 30.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

About IDACORP

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company’s service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power’s generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.